Cory Booker May Not Want To, But Robert Reich Goes Right Ahead And Indicts Private Equity

Democrat Cory Booker may not want “to sit here and indict private equity” like that once run by Republican presidential hopeful Mitt Romney, but a former Labor secretary was more than happy to take that plunge.

Booker, the mayor of Newark, N.J., stirred up a firestorm Sunday by appearing on national TV to seemingly undercut President Obama’s attacks on the way Romney handled his time at the head of private-equity firm Bain Capital.

However, Robert Reich, the Clinton-era Labor secretary and noted liberal economist, teamed up with MoveOn.org to create a lively and clever Web video which describes just why a political critique of private equity firms is entirely valid — “in eight simple steps.”

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